It is held that 40% of all product cost is attributed to logistics, while 30-40% of products are destroyed due to expiries.
SmartLogistics, a product of OptiSmart Solutions and founded by Francis Mbate, is an integrated web and mobile platform that allows retailers to pre-order and pre-pay for products from distributors via a mobile application, as well as track the deliveries. The platform is aimed at ensuring that the right products are stocked at the right time to optimize on sales. Through data analytics, the platform will subsequently help in the elimination of product stock-outs, expiries and overstocking of products. As a result of the pre-payments, risks associated with cash handling will also be eliminated by the SmartLogistics Solution.
Basically its an integrated web and mobile platform that supports pre-ordering, pre-payment and management of product stocks. The solution is aimed at ensuring seamless product ordering, payment & management of stocks by both suppliers and retailers, reducing on wastage caused by uncoordinated transport, product stock-outs, expired or dead stock.
The key benefits of the platform include:
Cost efficiency will be achieved through reduction of logistical overheads associated with transportation, storage of slow moving goods or expired products.
As a result of the pull system, both the distributor and the retailer will benefit from stocking fast moving consumer goods, which translates to more sales and more profit. Through elimination of stock-outs and dead/expired stock, more sales can be done.
With a single repository database for client transaction management, data analysis can reveal trends that can be used to tweak and/or build customer centric products
By integration of mobile payment system, physical cash transactions, which are risky, will be eliminated. Further, by use of a delivery token code during product delivery, losses and theft during transit will be eliminated.